Sunday, August 21, 2016

Service Tax Rules

What is Service Tax?

Service tax is a tax levied by the government on the services rendered by service providers which is borne by customers who receive this service. The service provider has to pay the government the service tax, but the service recipient is the one who actually pays for it. Service tax came into existence in 1994. The rate of service tax charged right now is 14%. Service tax comes with its own rules and regulations. Given below is a detailed explanation about service tax rules.

Service Tax Rules:

Listed below are the set of service tax rules set by the government for the purpose of the assessment and collection of service tax.

There are 9 rules excluding two sub rules. Given below is a brief description of each service tax rule set by the government.
Rule 1: Rule 1 basically defines the service tax rules
Rule 2: Rule 2 deals with the definitions of terms related to service tax. The rule consists of descriptions of every term that is related to service tax including terms like ‘act’, ‘assessment’, ‘large taxpayer’, etc.
Rule 3: Rule 3 deals with the appointment of officers.
Rule 4: Rule 4 deals with the registration of service tax.
Rule 5: Rule 5 deals with records.
Rule 6: Rule 6 deals with the payment of service tax
Rule 7: Rule 7 deals with tax returns
Rule 8: Rule 8 deals with form of Appeals to Commissioner of Central Excise
Rule 9: Form of appeals to Appellate Tribunal

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